30 Apr What’s New with Oracle HCM?
As Oracle’s HR cloud approaches its 10th year, HCM has added cutting-edge, if not edgy, new features to deliver more meaningful functionality, improve employee engagement and drive efficiency with AI
Launched in 2011, Oracle HCM has been refining its cloud-based SaaS HR solution for almost a decade. During that time, the field of companies that help enterprises manage human capital from hire to retire has grown quite crowded.
But those that offer comprehensive features across platforms – for example: recruitment, payroll, benefits and time-off management on desktop and mobile – in enterprises with more than 1,000 employees remains small.
Oracle has been committed to continually updating HCM with new features to improve user experience and deliver more meaningful functionality, analysis and outputs as more and more companies take their HR management to the cloud, launching new features such as self-service chatbots for common HR questions.
“By 2021, only half of organizations will have embraced digital technology to transform their business to be more intelligent and automated, and this is something we’re seeing prominently in HR,” said Mark Smith, CEO and chief research officer, Ventana Research. “Oracle is helping HR professionals stay ahead of this curve. Its investments in innovations, such as mobile-responsive design and digital assistants, are unique in the industry and will help its customers stay at the forefront of the market and achieve long-term success.”
Oracle’s comprehensive roadmap to the future for HCM focuses on mobile platforms, social engagement, chatbots and use of artificial intelligence, including machine learning. At the Mobile Business Experience in Las Vegas last month, Oracle showed off a range of new HCM features, such as digital assistants that are accessible through SMS, voice and chabots on desktop or mobile devices for common HR questions asked in thousands of different ways, including time-off availability, benefits coverage, pay slip details, onboarding tasks, and performance evaluations.
A comprehensive summary of recent updates (19A and 19B) can be found on Oracle’s website at this link, but read on to view a summary of HCM’s range of new and existing features:
Global Human Resources Cloud: Use a single global human resources solution that aligns common global HR processes, supports local compliance needs across multiple countries, and engages your workforce.
Key Benefits: Leverage legislative functionality to operate effectively across more than 200 countries and jurisdictions. Simplify the management of unique industry, union, collective labor, and worker agreements with rules-driven processing.
Talent Management Cloud: Manage the entire talent life cycle including recruiting candidates, managing performance, developing careers, providing learning, performing talent reviews, and planning successions.
Key Benefits: Increase hiring speed and quality by quickly sourcing and recruiting the right candidates. Increase engagement with work-life solutions that help motivate employees and deliver a superior employee experience. Increase bench strength by proactively planning for succession in leadership and other key roles.
- Tailored Career Sites: Organizations can now create multiple career sites to better target specific candidate pools, such as unique sites to identify college graduates vs. more experienced professionals or dedicated career sites for various business units within larger organizations.
- Candidate Self-Service: Job candidates now have a variety of self-service access to proactively obtain information, such as their application status, through an embedded chatbot.
- Streamlined Scheduling: A broad range of interview scheduling capabilities streamline the interview process and enable recruiters to spend less time on tactical scheduling and more time finding the best candidates.
Workforce Rewards Cloud: Attract and retain talent with differentiated rewards, and address simple and complex organizational remuneration needs.
Key Benefits: Differentiate compensation by allocating the right mix of monetary and nonmonetary rewards. Manage time and labor, scheduling, and related expenses. Maintain expenses for specific projects and other costs. Build a pay-for-performance culture.
Workforce Management Cloud: Control labor costs, efficiently manage projects, and improve operational excellence with Oracle Workforce Management.
Key Benefits: Accurately capture time worked by your employees via time clock integrations, online web clocks, timecards, calendar time entries, or mobile devices. Manage shifts, holiday schedules, and other company events that impact the availability of your workers, while ensuring you stay within budget. Ensure employees are paid accurately and on time using simple, configurable rules. Comprehensive absence, project management and T&E tools.
Work Life Solutions Cloud: Attract and retain top talent with a suite of innovative solutions that helps employees be more productive at work.
Key Benefits: Measure employees influence inside and outside the organization to improve their personal brand. Wellness tracking options that integrate with wearable devices. Attract new employees with a comprehensive volunteer program. Use gamification tools to improve engagement and productivity: Establish awards, incentives, scoring guidelines, and timeframes for competitions.
Need Oracle HCM Support or Services?
Vigilant is a certified Oracle Platinum Partner with an HCM Center of Excellence that offers end-to-end rapid implementation services as well as experienced managed support services.
Vigilant can help you transform your HR operations from strategy to design, delivery and effective execution by providing best-in-class services. We can also assist with integrations to third-party systems and migrating from Oracle HCM E-Business to HCM cloud. When it comes to Oracle HCM partners, our team has experience across all HCM modules and can ensure you’re getting the most ROI out of this valuable tool.
Contact us a 1-888-209-9424 or email us directly at email@example.com.